How Does a Residential Bridging Loan Work in the UK?
Buying and selling property rarely happens as neatly as we’d like. Sometimes the perfect new home becomes available before your current property has sold. Other times, a property purchase needs to complete quickly, leaving little time to arrange a traditional mortgage. This is where a residential bridging loan can help. A bridging loan is a […]
NEWS: Wolsey Mortgage Company Scoops Award
Wolsey Mortgage Company Ltd based in Suffolk has been announced as the winner of the SME Finance Awards, scooping the coveted ‘Best Mortgage Advisory Firm 2019 in East Anglia’ award. The competitive and renowned annual awards celebrate the excellence and innovation of financial services and businesses across the country. Andrew Sale, Managing Director of […]
What does an interest rate rise mean to me?
You may hear people nervously talking about an increase in the Bank of England Base Rate, but what effect could this have on you? If you’re on a Fixed rate or Capped mortgage you don’t really need to worry, your interest is fixed for a period of time and therefore your monthly mortgage payments will […]
How do I work out the total cost of my mortgage?
One option you have is to Google “mortgage calculator” and take a look at one online. But does this give you the full picture? For a more accurate indication, a broker or lender can calculate the cost of your mortgage for you. They should make sure that any charges are fully explained including fees involved […]
Why do I need to provide ID for a mortgage application?
Parliament brought in the Money Laundering regulation (now known as the Money Laundering Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017) and the Proceeds of Crime Act 2002 to protect customers from fraud, but also to try to prevent criminals using ill-gotten gains to buy things, resulting in their dirty money […]
Do you have enough contents cover on your home insurance?
It’s been estimated by the Association of British Insurers that 1 in 5 UK households are underinsured. This means that if the worst was to happen and you lost all the contents in your home, your pay out from the insurance company wouldn’t be enough to replace everything. Admiral Insurance* believe that the difference between […]
What is a bad credit mortgage?
There isn’t really such a thing as a bad credit mortgage. There are lenders that offer regular mortgages to those with less than perfect credit rating or have had credit issues in the past. Sometimes known as adverse credit mortgages, these mortgages can help those with past problems get onto the housing ladder, move or […]
Why do I need buildings insurance?
When you buy a home with a mortgage, there is a stipulation from the mortgage lender that you must have sufficient buildings insurance in place. The only exception to this is if you are buying a property that is Leasehold, as the landlord should pay for buildings insurance, although you’ll probably find that this is paid for […]
Is the Buy-to-Let market still a good investment?
eMoov predicts that house prices in the UK will see an increase of 56% during the next decade and by 2027 the average cost of a home in the UK could be as much as £347,757*, you won’t get that sort of return on your savings account! We don’t have a crystal ball and none […]
To move or improve?
That’s the big question faced by many a homeowner. Can you face the upheaval of moving? Have you outgrown your current home? These are just a couple of factors that can influence your decision. Does your home have the potential to extend/remodel? You’ll often see Kirsty Allsopp and Phil Spencer fighting it out on Channel […]